Facebook overhauls user profiles

SAN FRANCISCO (Reuters) - Facebook unveiled a new feature that lets users overhaul their profile allowing people to create magazine-like photo-heavy Web pages and curate their own stories.

Called "Timeline," the feature was introduced on Thursday during Facebook's annual f8 developers' conference in San Francisco by Facebook CEO Mark Zuckerburg.

Dressed in a gray T-shirt, jeans and sneakers, Zuckerburg said Timeline is the "important next step to help you tell the story of your life."

The feature lets users filter photos, keep a diary of activity and maintain "complete control" of privacy settings.

Facebook is attempting to build a deeper relationship with its users so they will spend more time on its site, allowing the company to generate more advertising dollars as it faces new competition from Google, which launched rival Google + in June.

(Reporting by Alexei Oreskovic, editing by Maureen Bavdek)